Brokerages Anticipate Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) Will Announce Quarterly Sales of $774.40 Million

Equities research analysts expect Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL) to announce $774.40 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Cracker Barrel Old Country Store’s earnings, with the highest sales estimate coming in at $777.60 million and the lowest estimate coming in at $771.20 million. Cracker Barrel Old Country Store posted sales of $810.89 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.5%. The company is scheduled to report its next earnings report on Tuesday, September 17th.

According to Zacks, analysts expect that Cracker Barrel Old Country Store will report full year sales of $3.06 billion for the current financial year. For the next fiscal year, analysts expect that the company will report sales of $3.14 billion, with estimates ranging from $3.14 billion to $3.15 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Cracker Barrel Old Country Store.

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Cracker Barrel Old Country Store (NASDAQ:CBRL) last released its earnings results on Tuesday, June 4th. The restaurant operator reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.02. Cracker Barrel Old Country Store had a return on equity of 34.36% and a net margin of 7.10%. The company had revenue of $739.60 million during the quarter, compared to the consensus estimate of $735.15 million. During the same quarter last year, the company earned $2.03 earnings per share. Cracker Barrel Old Country Store’s quarterly revenue was up 2.5% compared to the same quarter last year.

CBRL has been the subject of a number of recent analyst reports. Maxim Group reissued a “buy” rating and issued a $195.00 target price (up previously from $185.00) on shares of Cracker Barrel Old Country Store in a report on Wednesday, July 24th. BidaskClub downgraded Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine downgraded Cracker Barrel Old Country Store from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. SunTrust Banks cut their price target on Cracker Barrel Old Country Store to $161.00 and set a “hold” rating for the company in a research note on Wednesday, June 5th. Finally, Zacks Investment Research raised Cracker Barrel Old Country Store from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $171.96.

In other news, major shareholder Sardar Biglari sold 68,630 shares of Cracker Barrel Old Country Store stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $170.13, for a total transaction of $11,676,021.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 1,173,399 shares of company stock valued at $201,096,228 in the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CBRL. Meridian Wealth Management LLC acquired a new position in shares of Cracker Barrel Old Country Store during the 1st quarter worth $26,000. Adirondack Trust Co. raised its stake in Cracker Barrel Old Country Store by 104.0% in the 1st quarter. Adirondack Trust Co. now owns 255 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 130 shares during the last quarter. Enterprise Financial Services Corp raised its stake in Cracker Barrel Old Country Store by 298.4% in the 2nd quarter. Enterprise Financial Services Corp now owns 255 shares of the restaurant operator’s stock valued at $44,000 after purchasing an additional 191 shares during the last quarter. Signaturefd LLC raised its stake in Cracker Barrel Old Country Store by 46.4% in the 1st quarter. Signaturefd LLC now owns 309 shares of the restaurant operator’s stock valued at $50,000 after purchasing an additional 98 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new position in Cracker Barrel Old Country Store in the 2nd quarter valued at about $74,000. 82.21% of the stock is owned by institutional investors and hedge funds.

Cracker Barrel Old Country Store stock traded up $1.01 during midday trading on Tuesday, reaching $164.94. The company’s stock had a trading volume of 293,000 shares, compared to its average volume of 341,998. Cracker Barrel Old Country Store has a fifty-two week low of $141.63 and a fifty-two week high of $185.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.57 and a current ratio of 0.99. The stock’s 50 day simple moving average is $172.13 and its 200 day simple moving average is $165.69. The firm has a market capitalization of $3.94 billion, a PE ratio of 18.60, a P/E/G ratio of 1.81 and a beta of 0.58.

The company also recently declared a special dividend, which was paid on Friday, August 2nd. Stockholders of record on Friday, July 19th were paid a dividend of $3.00 per share. This represents a dividend yield of 3%. The ex-dividend date was Thursday, July 18th. Cracker Barrel Old Country Store’s dividend payout ratio (DPR) is presently 58.62%.

Cracker Barrel Old Country Store declared that its board has initiated a stock repurchase program on Tuesday, June 4th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 1.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Cracker Barrel Old Country Store Company Profile

Cracker Barrel Old Country Store, Inc develops and operates the Cracker Barrel Old Country Store concept in the United States. Its Cracker Barrel stores consist of a restaurant with a gift shop. The company's restaurants serve breakfast, lunch, and dinner. Its gift shops offer various decorative and functional items, such as rocking chairs, holiday and seasonal gifts, toys, apparel, music CDs, cookware, and various other gift items, as well as pies, cornbread mixes, coffee, syrups, pancake mixes, candies, preserves, and other food items.